Robert H. Smith School of Business
The Motley Fool

Market Foolery Featured Podcasts

  • MarketFoolery: 09.17.2014
    Morgan Housel analyzes the best way to think about trends, what Scotland’s independence means for investors and what to do in DC.
  • MarketFoolery: 09.16.2014
    On today’s show the guys try to figure out what the future may hold for sears, what Microsoft plans to do with Minecraft, and which fall beer is the best.
  • MarketFoolery: 09.15.2014
    We dig into the Fool Mailbag to answer listener questions about GoPro, Vail Resorts and how to balance “buy & hold” with an opportunistic cash balance.  
Capital Business
Posted at 05:50 PM ET, 09/27/2012

Umba Box, D.C.-based gift company, teams up with Facebook


Lauren Thorp, Founder and chief executive of Umba Box. (Jeffrey MacMillan - Capital Business)
Umba Box, as Washington-based subscription service that specializes in handmade gifts, announced today that it is partnering with Facebook to allow users to buy physical gifts directly from the social networking Web site.

The items will be sold through Facebook’s new Gifts feature, which the social media giant showed off this afternoon. One hundred vendors, ranging from gourmet food companies to baby goods retailers, have teamed up for the program.

“It’s very exciting,” said Lauren Thorp, who founded Umba Box in October 2011. “We started talking [with Facebook] at the end of July. It’s all moved very fast.”

Facebook users can buy gifts by clicking a link on friends’ profiles or by going to the birthdays section of their news feed. Once users choose and pay for a present, their friend is notified of the purchase and the item is shipped.

Thorp said she expects the company’s revenue to increase from $30,000 per month to $2 million per month as a result. Umba Box currently has 1,000 subscribers a month — a figure that she said could grow 10-fold in a matter of days, Thorp said.

The company’s subscription-based model allows customers to order monthly packages for a flat rate of $25. Thorp includes two or three handmade gift items, ranging from notebooks to jewelry, in every shipment.

By  |  05:50 PM ET, 09/27/2012

 
Read what others are saying
     

    © 2011 The Washington Post Company